Private Wealth Advisors Inc. Raises Holdings in AbbVie Inc (NYSE:ABBV)

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Private Wealth Advisors Inc. lifted its holdings in shares of AbbVie Inc (NYSE:ABBV) by 1.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,434 shares of the company’s stock after buying an additional 200 shares during the period. Private Wealth Advisors Inc.’s holdings in AbbVie were worth $831,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Weaver Consulting Group bought a new stake in AbbVie during the first quarter worth about $25,000. Prime Capital Investment Advisors LLC bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $27,000. Arbor Wealth Management LLC bought a new stake in shares of AbbVie during the second quarter valued at approximately $28,000. Lowe Wealth Advisors LLC grew its stake in shares of AbbVie by 206.7% during the second quarter. Lowe Wealth Advisors LLC now owns 460 shares of the company’s stock valued at $33,000 after purchasing an additional 310 shares during the last quarter. Finally, Horrell Capital Management Inc. bought a new stake in shares of AbbVie during the second quarter valued at approximately $33,000. 70.03% of the stock is owned by institutional investors and hedge funds.

ABBV stock traded down $0.75 during midday trading on Tuesday, reaching $65.71. The company’s stock had a trading volume of 377,246 shares, compared to its average volume of 9,390,872. AbbVie Inc has a 52 week low of $62.66 and a 52 week high of $98.70. The stock has a market cap of $97.54 billion, a PE ratio of 8.32, a price-to-earnings-growth ratio of 1.57 and a beta of 0.96. The business’s 50-day simple moving average is $67.09 and its 200-day simple moving average is $75.89.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, July 26th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.05. AbbVie had a net margin of 12.62% and a negative return on equity of 182.70%. The firm had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $8.09 billion. During the same period last year, the firm earned $2.00 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. Analysts predict that AbbVie Inc will post 8.88 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were paid a $1.07 dividend. The ex-dividend date was Friday, July 12th. This represents a $4.28 dividend on an annualized basis and a yield of 6.51%. AbbVie’s payout ratio is presently 54.11%.

ABBV has been the topic of several research analyst reports. Leerink Swann raised shares of AbbVie to a “buy” rating in a research note on Tuesday, July 2nd. Svb Leerink raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price target on the stock in a research note on Wednesday, June 26th. Citigroup reissued a “hold” rating on shares of AbbVie in a research note on Wednesday, June 26th. ValuEngine cut shares of AbbVie from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 26th. Finally, Piper Jaffray Companies raised shares of AbbVie from a “neutral” rating to an “overweight” rating and set a $80.00 price target on the stock in a research note on Tuesday, August 20th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. AbbVie currently has an average rating of “Hold” and a consensus target price of $92.05.

In other news, Director Roxanne S. Austin bought 11,500 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were bought at an average cost of $67.50 per share, for a total transaction of $776,250.00. Following the completion of the acquisition, the director now owns 52,114 shares in the company, valued at approximately $3,517,695. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jeffrey Ryan Stewart bought 15,552 shares of the business’s stock in a transaction on Friday, August 16th. The stock was purchased at an average price of $64.44 per share, for a total transaction of $1,002,170.88. Following the completion of the acquisition, the senior vice president now owns 65,304 shares of the company’s stock, valued at approximately $4,208,189.76. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 152,452 shares of company stock worth $10,128,541. Company insiders own 0.08% of the company’s stock.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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